Extremely Rare and Early Pennsylvania Provincial Bond
Pennsylvania - Bond to the Trustees of the General Loan Office
of the Province of Pennsylvania for 139 Pounds 10 Shillings
September 9, 1736. PCGS Very Fine 30 Apparent.
A fully accomplished and early 1736 Pennsylvania bond guaranteeing payments to the Trustees of the General Loan Office. An extremely rare and complex document. Collateral (or part of it) apparently was in Bills of Credit or the "current Money of America," which is an unusual clause observed in "The Condition" portion of the document. Peter Lycam was charged 5% for this loan. This is a printed set-type form in multiple lines with two defined sections, in various fonts, on a large laid paper sheet. No imprint. 21 cm x 32.4 cm. At the bottom are the signatures of two witnesses and the issuee, with his wax seal upon the end of the signature.
[Handwritten text is in bold italics.]
KNOW ALL MEN by these Presents,
That I Peter Lycan of Moorland in the
County of Philadelphia Smith_______
am held and firmly bound unto Andrew Hamil[son?]
Charles Read Jeremiah Longhorne Rich.d Hayes
and John Wright Trustees of the General LOAN
OFFICE of the Province of PENNSYLVANIA
in the Sum of One hundred thirty nine pounds ten shillgs.
Lawful Money of the said Province, to be paid unto the said
Trustees, or their Successors; to which Payment well and truly
to be made, I do bind myself, my Heirs, Executors, and Ad-
ministrators firmly by these Presents. Sealed with my Seal,
Dated the ninth Day of September in the
Year of our Lord One Thousand Seven Hundred and Thirty six.
THE CONDITION of this Obligation
is such, That if the Above-bounden Peter Lycan his
__________Heirs, Executors or Administrators, do well and
truly pay unto the said Trustees or their Successors at the Place where
their Office shall be kept for the time being, the Value of sixty nine
pounds fifteen shillgs. in Bills of Credit current by the Law of the
said Province, or in current Money of America; with Interest for the
same at Five per Cent. per Annum; and every Part thereof, in such Pro-
portions, at such Days and Times, and in such Manner and Form as
is particularly directed by a certain Indenture bearing even Date
with the above-written Obligation , and made between the Above-
bounded Peter Lycan __________ of the one Part, and the said
Trustees of the other Part, for securing the same Money as is herein
mentioned, according to the Tenor, Form and Effect of the same In-
denture; Ten the above Obligation to be Void and of no effect, or
else to be and remain in full Force and Virtue.
Sealed and Delivered Peter Lycan [wax seal]
in the Presence of us
At the top of the back is:
p Act of 1731
Noted with "Splits and Repairs; Paper Toned; Small Piece Missing at LR." An interesting, long document in superior condition. The late docket date is curious. The only example we have seen with a significant "Current Money of America" clause.
Ex: Eric P. Newman Numismatic Education Society
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A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
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